sec.71Audit of audit office

sec.71 Audit of audit office

The Governor in Council must appoint a person who is a registered company auditor under the Corporations Act to conduct an audit of the audit office for each financial year for which the person is appointed. The Minister may make a recommendation to the Governor in Council regarding the appointment of a person under subsection (1) only with the approval of the parliamentary committee. For subsection (2) , the parliamentary committee— must decide to give or not give the approval within 20 business days after receiving the request for the approval from the Minister; and is taken to have approved the appointment of the person stated in the request if the committee does not notify the Minister of its decision under paragraph (a) within the period stated in that paragraph. A person may not be appointed under subsection (1) for more than 5 consecutive financial years. The person is entitled to be paid the fee decided by the Governor in Council for each financial year for which the person is appointed. s 71 amd 2024 No. 3 s 17 (sec.71-ssec.1) The Governor in Council must appoint a person who is a registered company auditor under the Corporations Act to conduct an audit of the audit office for each financial year for which the person is appointed. (sec.71-ssec.2) The Minister may make a recommendation to the Governor in Council regarding the appointment of a person under subsection (1) only with the approval of the parliamentary committee. (sec.71-ssec.3) For subsection (2) , the parliamentary committee— must decide to give or not give the approval within 20 business days after receiving the request for the approval from the Minister; and is taken to have approved the appointment of the person stated in the request if the committee does not notify the Minister of its decision under paragraph (a) within the period stated in that paragraph. (sec.71-ssec.4) A person may not be appointed under subsection (1) for more than 5 consecutive financial years. (sec.71-ssec.5) The person is entitled to be paid the fee decided by the Governor in Council for each financial year for which the person is appointed.

• (a) must decide to give or not give the approval within 20 business days after receiving the request for the approval from the Minister; and
• (b) is taken to have approved the appointment of the person stated in the request if the committee does not notify the Minister of its decision under paragraph (a) within the period stated in that paragraph.